“Flows for the month-to-date remain negative at 17 [metric tons] but the pace of outflows has showed signs of slowing as equity markets have weakened and prices have risen, meaning fewer ETPs are loss-making,” Barclays analysts said in the report. “Given that we continue to expect tapering to be announced in September and that we expect the dollar to strengthen, ETP holdings are likely to remain fragile but flows will remain a key area to track.” [Fed Tapering and Gold ETFs]

SPDR Gold Shares (GLD) is the largest bullion ETF with about 920 metric tons of gold valued at $40.7 billion. The fund is down nearly 17% year to date.

View photo

.

gold-etf

Full disclosure: Tom Lydon’s clients own GLD.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.